AMD, TSMC execs face insider trading probe

An insider trading probe targeting executives and consultants in several companies has resulted in serious charges against two TSMC and AMD executives in the US.

The FBI and the US Attorney's Office are currently conducting a wide ranging investigation and several subpoenas have already been filed against executives suspected of shady trading practices.

The charges center on TSMC's business development manager Manosha Kaurnatilaka, who allegedly provided confidential information to Primary Global Research, which distributed the confidential information to investors. Kaurnatilaka received $35,000 in return for his services. According to Reuters, Kaurnatilaka was contacted by the FBI a few months ago and asked to cooperate in the investigation.

Flextronics business development Director Walter Shimoon and Primary Global Research executive James Fleishman were also charged for their involvement. Fleishman was arrested on fraud and conspiracy charges.